k.kuku.jain
See it, like it, want it – Buy Now, Pay Later here to stay.
“Buy Now and Pay Later” is a type of “Point-of-Sale” financing, which is growing in popularity exponentially, especially among millennials. BNPL is a form of unsecured lending in small ticket sizes that allows consumers to make purchases and pay for them later through a few interest-free instalments. Borrowers can utilize these short-term credit schemes on purchases both online and offline even without any credit checks. A first-time buyer will have to complete KYC formalities on the provider’s platform. BNPL providers use analytics to get insights on buyers’ purchase behaviour and determine their credit worthiness. Typically, this option targets millennials offering them easy access to credit for small-ticket purchases.
See it, like it, want it – Buy Now, Pay Later here to stay.
“Buy Now and Pay Later” is a type of “Point-of-Sale” financing, which is growing in popularity exponentially, especially among millennials. BNPL is a form of unsecured lending in small ticket sizes that allows consumers to make purchases and pay for them later through a few interest-free instalments. Borrowers can utilize these short-term credit schemes on purchases both online and offline even without any credit checks. A first-time buyer will have to complete KYC formalities on the provider’s platform. BNPL providers use analytics to get insights on buyers’ purchase behaviour and determine their credit worthiness. Typically, this option targets millennials offering them easy access to credit for small-ticket purchases.